1. Summary Information
|
|
|
Country |
|
|
Company Name |
PRESIDENCY KID LEATHER LIMITED |
Principal Name 1 |
Mr. S. Masud Ali
Khan |
|
Status |
Moderate |
Principal Name 2 |
Mr. Mahboob Khan |
|
|
|
Registration # |
18-6197 |
|
Street Address |
No. 2165, L
Block, |
||
|
Established Date |
18.07.1972 |
SIC Code |
-- |
|
Telephone# |
91-44-26192727/26191984/26201853/26202105/26441853/26442105 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-26205837 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Full Shoes |
|
|
# of employees |
|
Product Name 2 |
Leather Shoe
Uppers |
|
Paid up capital |
Rs.
34,176,000/- |
Product Name 3 |
Finished Leathers
|
|
Shareholders |
-- |
Banking |
Syndicate Bank |
|
Public Limited Corp. |
NO |
Business Period |
39 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (29) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Group
Company |
|
PKL
Company |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
384,026,000 |
Current Liabilities |
172,564,000 |
|
Inventories |
515,519,000 |
Long-term Liabilities |
490,561,000
|
|
Fixed Assets |
164,469,000 |
Other Liabilities |
3,367,000 |
|
Deferred Assets |
000 |
Total Liabilities |
666,492,000 |
|
Invest& other Assets |
4402,000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
401,925,000 |
|
Total Assets |
1,068,416,000 |
Total Liab. & Equity |
1,068,417,000 |
|
Total Assets (Previous Year) |
1,088,306,000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
1,050,760,000 |
Net Profit |
1,181,000 |
|
Sales(Previous yr) |
1,342,729,000 |
Net Profit(Prev.yr) |
2,892,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRESIDENCY KID
LEATHER LIMITED |
|
|
|
|
Registered Office : |
No. 2165, L
Block, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
18.07.1972 |
|
|
|
|
Com. Reg. No.: |
18-6197 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U19122TN1972PLC006197 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP00245A |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and
Exporters, Importers of Leathers and Leather Products like Shoe, Footwear,
and Uppers/Full Shoes etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1607700 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The
management has not filed the latest financials of the company with the
Government Departments. However, trade relations are reported as fair.
Business is active. Payments terms are not known. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sundaram |
|
Designation : |
General Manager |
|
Contact No.: |
91-9840888814 |
|
|
|
|
Name : |
Mr. Salman |
|
Designation : |
System Analyst |
|
Contact No.: |
91-44-26202105 |
|
Date : |
22.03.2011 |
LOCATIONS
|
Registered
Office : |
No. 2165, L
Block, |
|
Tel. No.: |
91-44-26192727/26191984/26201853/26202105/26441853/26442105 |
|
Fax No.: |
91-44-26205837 |
|
E-Mail : |
|
|
Web Site: |
|
|
Area : |
10,000 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Corporate
Office : |
476, |
|
Tel. No.: |
91-44-26461837 / 26127373
/ 53 / 26460782 / 2620105 / 26202564 / 26203704 |
|
Mobile No. : |
91-9840888814
(Mr. Sundaram- GM) |
|
Fax No.: |
91-44-26205837 /
26201853 / 22619835 / 26445837 / 26425837 |
|
E-Mail : |
|
|
Area : |
50,000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
2, 7th
Main Road, New Colony Chrompet, Chennai 600044 |
|
Tel. No.: |
91-44-22235123 |
|
|
|
|
Factory 2 : |
2 Dr. R. K.
Nagar, Second |
|
|
|
|
Factory 3 : |
Guduvanchroi
Post, Kanjivar |
|
Area : |
80000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Leather
Division : |
15, Kannivakkam, Guduvancheri, P. O. Kanchipuram Dist. |
|
Tel No.: |
91-44-27438224/ 27438237/ 27438484 |
|
Email : |
|
|
|
|
|
Footwear
Division : |
|
|
Tel No.: |
91-44-27465600/ 27465607/ 27465115/ 27465213 |
|
Fax No.: |
91-44-27465474 |
|
Email : |
|
|
|
|
|
Shoe Upper
Division : |
No. 1, Vallancheri, Vallancheri Villagew, Guduvancheri, P. O. Kanchipuram
Dist. |
|
Tel No.: |
91-44-27465375 |
|
Fax No.: |
91-44-27465374 |
DIRECTORS
|
Name : |
Mr. S. Masud Ali
Khan |
|
Designation : |
Chairman and
Managing Director |
|
Address: |
476, |
|
Date of
Birth/Age : |
29.09.1924 |
|
Date of
Appointment: |
18.07.1972 |
|
|
|
|
Name : |
Dr. Zachria Sait |
|
Designation : |
Chairman and
Managing Director |
|
Address: |
E 64, E Block, Anna
Nagar East, Chennai – 600 102, |
|
Date of
Birth/Age : |
08.02.1950 |
|
Qualifications
: |
M.B.B.S. |
|
Date of
Appointment: |
23.03.1990 |
|
|
|
|
Name : |
Mr. Mahboob Khan |
|
Designation : |
Director |
|
Address: |
D 13, Anna Nagar East,
Chennai – 600 102, |
|
Date of
Birth/Age : |
17.04.1964 |
|
Qualifications
: |
B. Com |
|
Date of
Appointment: |
23.03.1990 |
|
|
|
|
Name : |
Mr. Syed Iqbal Ali |
|
Designation : |
Director |
|
Address: |
Plot No. 1386, Golden
Colony, Mugappair, Chennai – 600 050, |
|
Date of
Birth/Age : |
31.10.1940 |
|
Qualifications
: |
Engineer |
|
Date of
Appointment: |
01.04.1998 |
|
|
|
|
Name : |
Mr. Niaz Ahmed |
|
Designation : |
Director |
|
Address: |
1017 – B, |
|
Date of
Birth/Age : |
29.12.1951 |
|
Date of
Appointment: |
01.04.1988 |
|
|
|
|
Name : |
Mr. Shaffee
Mansur |
|
Designation : |
Director |
|
Address: |
No. 12, |
|
Date of
Birth/Age : |
12.07.1965 |
|
Qualifications
: |
B.E |
|
Date of
Appointment: |
22.03.1996 |
MAJOR SHAREHOLDERS
(As on 31.03.2008)
|
Names of Shareholders |
|
No. of Shares |
|
S. Masud Ali Khan |
|
2640 |
|
Dr. Zachria Sait |
|
1200 |
|
Mahboob Khan |
|
6480 |
|
Husnara Begum |
|
4632 |
|
Nusrath Fathima |
|
5280 |
|
Nuzhath Sultana |
|
1848 |
|
Ahsan Ali Khan |
|
6096 |
|
Niaz Ahmed |
|
3000 |
|
Syed Iqbal Ali |
|
3000 |
|
Total: |
|
34176 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Exporters, Importers of Leathers and Leather Products like Shoe, Footwear,
and Uppers/Full Shoes etc. |
|
|
|
|
Exports : |
|
|
Products : |
·
Leathers
Products and Leather |
|
Country : |
·
·
|
|
|
|
|
Imports : |
|
|
Products : |
Chemicals Leather |
|
Country : |
·
·
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Credit, Cash
|
|
|
|
|
Purchasing : |
L/C, Credit, Cash
(30 -90 Days) |
GENERAL INFORMATION
|
Suppliers: |
·
Schill
and Seilacher GMBH and Company, ·
Trumpler
GMBH., |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
750 (in office 40
+ 710 in factory) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Syndicate
Bank, No. 69, Chennai Main Branch, 69, ·
Axis
Bank, Chennai-600004 ·
Indian
Overseas Bank, Kilpauk Branch, Chennai |
||||||||||||||||||||||||
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|
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|
Facilities : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Banking
Relations : |
-- |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||
|
Name : |
V Chartered Accountants |
||||||||||||||||||||||||
|
Address : |
Flat No. F2, No.
97 and 98, R K Mutt Road, Mandaveli, Chennai 600028, Tamil Nadu, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Associates
/Group: |
·
Max
International, ·
PKL
Company, |
CAPITAL STRUCTURE
(As on 31.03.2008)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000 |
Equity Shares |
Rs. 1000 each |
Rs 70.000 millions |
|
|
|
|
|
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34176 |
Equity Shares |
Rs. 1000 each |
Rs 34.176 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
|
850.000 |
780.000 |
Expected Sales (2010-2011) : Rs. 800.000 Millions
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Share Capital |
34.176 |
34.176 |
28.176 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
367.749 |
391.091 |
412.776 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
401.925 |
425.267 |
440.952 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
483.187 |
431.976 |
453.548 |
|
|
2] Unsecured
Loans |
7.374 |
9.437 |
1.027 |
|
TOTAL BORROWING
|
490.561 |
441.413 |
454.575 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
Provision for Income Tax and
Fringe benefit Tax
|
0.000 |
0.000 |
2.285 |
|
|
|
|
|
|
|
TOTAL
|
892.486 |
866.680 |
897.812 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
164.469 |
178.566 |
179.660 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
515.519
|
493.688
|
466.856
|
|
|
Debtors
|
164.791
|
228.768
|
213.197
|
|
|
Cash & Bank Balance
|
62.449
|
35.685
|
34.249
|
|
|
Other Current Assets
|
8.576
|
17.173
|
0.000
|
|
|
Loans & Advances
|
148.210
|
130.023
|
160.872
|
Total Current Assets
|
899.545 |
905.337 |
875.174 |
|
Less :
CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
172.564
|
218.269
|
161.423
|
|
|
Provisions
|
3.367
|
3.357
|
|
Total Current Liabilities
|
175.931 |
221.626 |
161.423 |
|
Net Current Assets
|
723.614 |
683.711 |
713.751 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
4.402 |
4.403 |
4.401 |
|
|
|
|
|
|
|
TOTAL
|
892.486 |
866.680 |
897.812 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
1050.760 |
1342.729 |
1130.882 |
|
|
Other Income |
65.425 |
69.660 |
53.945 |
|
|
Total Income |
1116.185 |
1412.389 |
1184.827 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4.548 |
6.249 |
3.266 |
|
|
Provision for Taxation |
3.367 |
3.357 |
1.434 |
|
|
Profit/(Loss) After Tax |
1.181 |
2.892 |
1.832 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Export value |
894.016 |
1122.539 |
NA |
|
|
Total Earnings |
894.016 |
1122.539 |
NA |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Skins in Pieces |
143.284 |
223.601 |
NA |
|
|
Chemicals in KGS |
61.150 |
81.168 |
NA |
|
Total Imports |
204.434 |
304.769 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
|
598.336 |
|
|
Consumption of stores and spares parts |
|
|
204.328 |
|
|
Increase/(Decrease) in Finished Goods |
|
|
1.468 |
|
|
Salaries, Wages, Bonus, etc. |
|
|
53.391 |
|
|
Managerial Remuneration |
52.961 |
50.593 |
3.567 |
|
|
Payment to Auditors |
|
|
0.115 |
|
|
Interest |
|
|
45.608 |
|
|
Insurance Expenses |
|
|
1.504 |
|
|
Power & Fuel |
|
|
22.284 |
|
|
Depreciation & Amortization |
21.963 |
23.585 |
24.356 |
|
|
Other Expenditure |
1036.713 |
1331.962 |
226.604 |
|
Total Expenditure |
1111.637 |
1406.140 |
1181.561 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
0.10
|
0.20 |
0.15
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.43
|
0.46 |
0.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42
|
0.57 |
0.31
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.01 |
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.65
|
1.55 |
1.40
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.11
|
4.08 |
5.42
|
LOCAL AGENCY FURTHER INFORMATION
change of address
The Registered Office of the company has been shifted from 476,
Trade References
v
v Gupta Overseas, New
Form 8
|
Name of the company |
PRESIDENCY KID
LEATHER LIMITED |
|
Presented By |
Dr. Zackria Sait, Joint Managing Director |
|
1) Date and description of instrument creating the change |
·
Export
credit agreement dated 15.03.1993 ·
Post
shipment agreement dated 15.03.1993 ·
Deed
of hypothecation of machinery dated 15.03.1993 – Rs. 90.600 Millions ·
Stock
Hypothecation deed dated 15.03.1993 – Rs. 90.600 Millions ·
Confirmation
of Land and Building for EM ·
Tannery
– 15.03.1993 – Rs. 90.600 Millions ·
Shoe Division
– 15.03.1993 – Rs. 90.600 Millions |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Charge secured
for Rs. 90.600 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
stock in trade of every description, raw materials semi finished goods,
finished goods, chemicals stores / spares, consumables, leather shoe uppers
stored in tannery, shoe upper an footwear divisions. Hypothecation of
machinery installed at tannery and shoe division and extension of mortgage of
land and building of tannery and shoe divisions. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
As per the
Syndicate bank sanction Letter No. 1215/6000/ADV/2005 dated 21/06/2005 |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank 69, Chennai Main, Chennai - 600001 |
|
6) Date and brief description of instrument modifying the charge |
·
Copy
of the sanction letter under No. 1215/6000/ADV/2005 dated 21/06/2005 ·
Copy
of the minutes of the meeting of the Board on 22.06.2005 with Resolutions
there of the Board of directors ·
Comprehensive
Pre a Post shipment agreement along with the Annexure on interest rates for
additional sum of Rs. 350.000 millions ·
Composite
Hypothecation Agreement – ASD 4/20 along with Annexure on the list of
machinery and interest rates for a sum of Rs. 544.476 millions dated
24.06.2005 ·
Memorandum
of deposit of title deeds for continuation of the mortgage created on
25.10.1988, 15.11.1989 and 30.05.2001 for Rs. 544.476 millions dated
24.06.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The present
modification is for the existing credit limits renewed for Rs. 544.476
millions vide Syndicate Bank sanction letter No. 1215/6000/ADV/2005 dated
21/06/2005, in cancellation of the existing limits and are valid upto
31.03.2007 |
Business
Subject import raw materials,
accessories and export-finished leather, leather shoe uppers
The company
operates under four main divisions which are as under :-
Ø
Finished
Leather Division
Ø
Shoe
Upper Division
Ø
Footwear
Division
Ø
Shoes
for Exports Division
Fixed Assets
v
Land
v
Building
v
Plant
and Machinery
v
Furniture
and Fixtures
v
Electrical
Installation
v
Vehicles
v
Office
Equipments
v
Air
Conditioner
v
Generator
v
Heating
System
v
Tools
and Equipment
v
Computer
and Printer
v
Air
Compressor
v
Fire
Extinguisher
v
EPABX
v
Aqua
Pac Model System
v
Ironing
Machine Felt
as per Website Details
Company Profile
This closely held leather company in existence since 1972 consists of a leather division, a shoe upper division and a full shoe division.
The company derives enormous pride and satisfaction from the fact that the customer relationships are everlasting due to the consistency maintained in its very high quality standard of leathers, shoe uppers and shoes.
Elegance and finesse is the hallmark of the glazed kid leathers. Beautifully crafted from a variety of leathers, the Shoe Uppers and Shoes are based on detailed information gathered from the clients.
The company's policy is to understand the requirements of
its customers accurately and come up with the right product, in the right
leather at an attractive price. Customer profile of the company includes the
best factories in
The company's management board consists of a chairman and 5 directors.
MANAGEMENT
BOARD
Mr. S. Masud Ali Khan
Mr. S. Masud Ali Khan, aged 77 years, is the Chairman and Managing Director of the Company. Mr. Khan has rich experience of more than four decades in the business.
Dr. Zackria
Sait
Dr. Zackria Sait, aged 50 years, is the Joint Managing Director of the Company.
Dr. Sait is the Chairman of the Indian Finished Leather Manufacturers and
Exporters Association, Chennai and also the Southern Regional Chairman of
Council for Leather Exports, Chennai.
Mr. Mahboob
Khan
Mr. Mahboob Khan, S/o Mr. S. Masud Ali Khan, aged 37 years, has graduated from
the
Mr. Niaz Ahmed
Mr. Niaz Ahmed, aged 49 years, graduate in chemistry has been with the
company since its inception and is Director in charge of the production of
Leather.
Mr. Shaffee Mansur
Mr. Shaffee Mansur, aged 36 years, a qualified Engineer, Director
incharge of all material purchases.
Mr. Syed Iqbal Ali
Mr. Syed Iqbal Ali, aged 60 years, graduate in law has been with the company
since its inception and is Director in charge of raw material purchases of the
leather division.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
The Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.96 |
|
|
1 |
Rs. 73.56 |
|
Euro |
1 |
Rs. 63.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.